Business

IOC has sold a fifth of its holding in ONGC. About 2.74 crore shares changed hands on the NSE at Rs 1,345 per share.

Maruti Udyog Ltd on Wednesday reported a 39.1 per cent increase in net profit for the quarter ended March 31, 2006.

According to the latest reports, Mittal Steel has decided to increase its offer for Arcelor to £14.1 bn from the current £12.7 bn.

Sending SMSes is all set to become easier. There will be no need to key in messages. Soon, you will be able to send an SMS voice mail.

The Bombay Stock Exchange has asked market regulator SEBI for a one-year extension to dilute its broker members' stake from 100 per cent to 49 per cent.

Striking State Bank of India employees on Saturday submitted a revised offer during an over three hour meeting with bank chairman A K Purwar in Mumbai.

They are exclusive, expensive and bold in a way street cars can never be. These are Forbes.com 10 most expensive streetcars for 2006.

Luxembourg says they will not discriminate against Lakshmi Niwas Mittal's bid to take over Arcelor just because he is Indian.

The weakness of dollar was also attributed to the Treasury International Capital System flow data to be released on Wednasday.

European steel giant Arcelor said it has acquired 98.5 per cent of Canadian rival Dofasco and will force the remaining owners to sell their shares.

The Government will issue the first tranche of oil bonds worth Rs 5,750 crore by Wednesday and a second trance by March 15 in order to tide over the crisis of oil pool deficit.

The market ended with modest loss amid volatile trade. Losses were seen in technology, banking and FMCG stocks. However, metal, auto and pharma stocks gained.

Just a day after the Budget, FM P Chidambaram spoke to TV18 network's Editor Raghav Bahl, where he clarified that discussions on the Rangarajan Panel will start.

Cut in excise and customs duties will encourage more investment and help the economy to grow faster, P Chidambaram said.

Small cars, medicines and fast food became cheaper, software and cigarettes will become dearer. A list of all that has changed post-Budget.

Cautioning against complacency in the face of sustained industrial growth, the Economic Survey tabled by FM P Chidambaram asked the Government to "unburden" industry from high level of taxes to help it become globally competitive.